Virginia United Methodist Housing Development Corporation

EIN: 521258679

Alexandria, VA

Total Revenue
$4,945,778
Total Expenses
$1,259,161
Total Assets
$30,139,967
Net Assets
$19,241,772
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
VA
Phone
5403446861
Tax Period
2024-01-01 to 2024-12-31

Virginia United Methodist Housing Development Corporation, founded in 1982, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $3.7M, a strong 75% operating margin.

Mission

the mission of the virginia united methodist housing development corporation ("vumhdc") is to serve low to moderate income persons in virginia by developing, owning, operating and sustaining quality affordable housing communities and to partner with and assist others seeking to engage in that mission.

Program Service Accomplishments

Program 1
Expenses: $805,325 Revenue: $4,459,264

vumhdc owns and operates sixteen affordable properties and partners in eighteen other affordable properties in partnership with other private market developers. These properties offer approximately...

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vumhdc owns and operates sixteen affordable properties and partners in eighteen other affordable properties in partnership with other private market developers. These properties offer approximately 1,962 housing units that are classified as "affordable" through various programs sponsored by HUD and VHDA. these properties are open to any and all people who qualify under the applicable affordable housing programs.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,003,584
Investment Income $1,942,194
Other Revenue $0
TOTAL REVENUE $4,945,778

Expense Breakdown

Grants Paid $0
Salaries & Benefits $212,076
Fundraising Expenses $0
Program Expenses $805,325
Other Expenses $1,047,085
TOTAL EXPENSES $1,259,161

Year-over-Year Comparison

2024 2023 Change
Revenue $4,945,778 $8,114,342 -0.4%
Expenses $1,259,161 $2,869,188 -0.6%
Net Income $3,686,617 $5,245,154 -0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
8
Employees
1
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$70,800
Total Directors
11
$70,800
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dr James G O'Quinn Vice President 1.0
Officer Director
$3,600 $0 $3,600
Larry Dickenson President 24.0
Officer Director
$60,000 $0 $60,000
Rev Ernest Herndon Jr Secretary 1.0
Officer Director
$7,200 $0 $7,200
W Randolph Spears Treasurer 12.0
Officer Director
$0 $0 $0
David Dommisse Director 1.0
Director
$0 $0 $0
Harold E White Sr Director 1.0
Director
$0 $0 $0
Joe Thielecke Director 1.0
Director
$0 $0 $0
Kathy Lutman Director 1.0
Director
$0 $0 $0
Lawrence Julihn Director 1.0
Director
$0 $0 $0
Monty Cox Director 1.0
Director
$0 $0 $0
Sue Boltz Director 1.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $4,945,778 $1,259,161 $30,139,967 $3,686,617
2023 $8,114,342 $2,869,188 $25,817,007 $5,245,154
2022 $2,437,468 $2,712,629 $27,721,106 $-275,161
2021 $719,594 $560,182 $21,157,593 $159,412
2020 $-306,376 $423,492 $13,884,253 $-729,868
2019 $8,023,977 $743,575 $14,745,345 $7,280,402
2018 $200,558 $397,603 $7,355,994 $-197,045
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